General Trading Chat

[TracerBullet]

Bajaj finance taking support at 200day moving average.

Vivek

Somewhere bottom will get made, but no evidence so far. Spike up did not hold and we have lower highs ..

 

[john302928]

I feel banknifty reversal just might be in few min. It might be a sharp one. All it has to do it just make a new low below 25078. and we are just 20 points away from it but if it breaks 25173 before making a new low by any means then we can say reversal happened. This is just my view

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Update @ 12.33pm
the current 1 min low could be the reversal low @ 24981 . I believe that could be the low for now. but our reversal signal is placed at 25085 zone. lets see how it progress

update @1.10pm

Update @1.34pm worst case scenario (incase If i was wrong in my previous counting) it might revisit 24900 zone again. Bulls might takeover once it crosses the 25179 zone. till then we need to be bit careful by giving worst case scenario 50% probability

update @ 2.49pm, I still believe on the upside and i feel wave 2 is becoming a flat but still confirmation level is placed around 25179 zone. as long as we dont get confirmation we cant negate the worst case scenario movement

Update @3.30pm
Worst case scenario workedout and revisted 24900 zone Since this looks like ed pattern with abc strcuture in each of the legs, the 5th leg also might have abc strcuture and it looks like we have completed wave A so we will have wave B and wave C to complete this ED. reversal from ED is always a strong one. so if this ED is correct then we should witness the rally back to start point of this ED ie 26000 and that equals more than 1000 points rally from the end of ED.lets see

On 25 sep 2018
[email protected]. It has reversed from ED and moved around 400 points till now from days low. Need to keep an eye on whether its a reversal for the downtrend from 28k or not

Update @ 11.11am. we can see 5 wave diagonal impulsive move and nicked the confirmation level @ reflex point placed @25114 area. and now it is heading for a shallow correction and this correction might go down around 24998 zone plus or minus 10-20 points. Good news is that this wave 5 move is one higher degree wave 1 and this wave 1 carried 600 points rally from day low so wave 3 will be more than 1000 easily and is it is likely to happen today itself.Lets see

 

[cinderblock]

On one hand Sebi increases FNO margin 20%.

On the other hand the index wants to go down 20%, thus keeping the margin constant

 

[cinderblock]

Wow! Once 11,000 broke the next "visible" tick was 10982

Almost a 20 point slippage!

 

[HEM]

Thanks Sir... really helpful... looks like its advantageous to have an account with a local broker...currently I dont have this flexibility as my accounts are with ICICIdirect and Zerodha.

I always prefer local brokers because of risk control and then easy access due to so many reasons or risk like your system failure, internet down , light cut and inverter is also down, technical glitchs in trading platform and then broker's busy phone lines etc .


HEM

 

[Riskyman]

I always prefer local brokers because of risk control and then easy access due to so many reasons or risk like your system failure, internet down , light cut and inverter is also down, technical glitchs in trading platform and then broker's busy phone lines etc .
HEM

Ye local broker kya hai HEM Bhai? Zerodha/Fyers in Bangalore. Finvasia in north somewhere. Icici in Mumbai. Are you talking about a next door local sub broker like sharekhan/motilal oswal?

 

[ncube]

I always prefer local brokers because of risk control and then easy access due to so many reasons or risk like your system failure, internet down , light cut and inverter is also down, technical glitchs in trading platform and then broker's busy phone lines etc .


HEM

As my strategy trades very slowly so far I did not face any challenge requiring me to make any quick adjustments so did not explore local broker options. I just sit & watch my portfolio go down with the market and I cant do anything about it....Today as of now it is down another percentage point...only consolation is that I am currently invest only 1/3 of my capital and the portfolio is well diversified with top performing stocks. However even some of those top stocks are already down 10-15%...and still I have not got the sell signal...

 

[aaru]

Any thread or info on good elss funds

 

[Smart_trade]

Reliance ,Pharma and Tech will lead the recovery....financials will take a back seat for some time now......TCS is above its buyback
price.

Smart_trade

 

[vikas2131]

Reliance ,Pharma and Tech will lead the recovery....financials will take a back seat for some time now......TCS is above its buyback
price.

Smart_trade

If financials remain stuck like they were stuck in august while nifty kept going higher then in next correction, there would be even bigger fall in financials.